10 tips for a worry-free IRA rollover

9. How old are you?

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Understand age differentials. A worker who leaves his or her job between the ages of 55 and 59 ½ may be able to take penalty-free withdrawals from an employer-sponsored plan. Under the age of 59 ½, IRA withdrawals involve tax penalties. At the age of 70 ½, periodic withdrawals, known as required minimum distributions, must be taken from IRAs.